NZ-India FTA Set to Boost Trade by Up to 25%

New Zealand and India are finalizing a free trade agreement that could be worth billions of dollars for Kiwi businesses. The deal, which has been in the works since 2010, is expected to increase two-way trade between the countries by up to 25%.

According to New Zealand Trade Minister Damien O'Connor, the agreement will also create new opportunities for small and medium-sized enterprises (SMEs) in both countries. 'This FTA has the potential to deliver significant economic benefits for New Zealand businesses, particularly SMEs,' he said.

The exact terms of the deal have not been disclosed, but it is understood that India has agreed to reduce its tariffs on New Zealand's agricultural exports, including dairy products and meat. In return, New Zealand will provide greater access to its market for Indian goods such as textiles and pharmaceuticals.